The Events Trust Fund applies local and state gains from sales and use, auto rental, hotel and alcoholic beverage taxes generated over a specified period of time. Eligible events are not restricted to sports, but the venue must have been selected through a highly competitive selection process.
The Events Trust Fund can be used to help pay costs related to preparing for or conducting an event, including equipment, or to pay principal and interest on notes used to build or improve facilities to host the proposed event. One hundred percent of allowable expenses can be funded provided sufficient tax receipts are deposited in the trust fund. The state has three separate event trust fund programs (the Events Trust Fund, Major Events Reimbursement Program and Motor Sports Racing Trust Fund), each designed to support different types of events.
For more information, please contact the Economic Development Bank within the Economic Development and Tourism (EDT) Office at firstname.lastname@example.org or (512) 936-0100.